Samuel Nartey George, Minister for Communication, Digital Technology, and Innovation, has revealed that the government will soon outline policy measures aimed at safeguarding jobs and ensuring the long-term viability of telecommunications company AT.
Speaking to journalists in Accra on Wednesday, April 9, Sam George reaffirmed the government’s commitment to addressing AT’s financial challenges and stabilizing its operations.
“I will be updating the nation in the course of this quarter on the policy directions the ministry will be taking as the sole shareholder to ensure the security of the jobs of employees and the long-term survival of the business,” he stated.
Currently, AT is grappling with a debt portfolio of $200 million, even after undergoing a debt restructuring. The company is also incurring monthly operating losses of GHS20 million.
The Minister underscored the urgency of negotiating debt “haircuts” with creditors to curb ongoing financial losses and support the company’s recovery.
He also criticized the previous administration’s acquisition of AirtelTigo—now rebranded as AT—for a symbolic $1, describing the transaction as “ill-informed and reckless.”
At the time of the acquisition, AT had a $400 million debt burden and insufficient revenue to cover its monthly overheads.
Sam George further revealed that the company’s core systems and trading platforms were outdated, and that its previous owners, Bharti Airtel and Millicom, had not made any significant investments in the last five years of their ownership.
Read also…
Mahama Ayariga condemns Police shooting in Bawku